Cupp Coffee and Pastries $($CCP$)$ was organized on Jan $1,2023.$ It is authorized to issue an unfimited number of common shares and $120,000$ preferted shares with $95$ dividend; non$-$paricipating and cumulative. No share transactions were made in $2023.$ The folfowing share transactions were completed in $2024.$Retained Earning on Dec $31,2023($closing date$)$ was $435,000.$Jan $20$: Issued $16,000$ common shares for cash at $$22$ each Feb $1$: Issued $30,000$ preferred shares for cash at $$110$ eachMar $2$: Issued $4,000$ common shares for land. The fair value of the land was $$73,500$; market price of common shares was $$20$Apr $4$: Issued $1,000$ common shares to IBBIS Corporation for providing maintenance service to CCP$,$ the invoice for the work was $$19,500$May $5$: Issued $25,000$ common shares for cash at $$19$ each June $7$: Issued $1,200$ preferred shares for cash at $$105$ eachOct $17$: Purchased and retired $1,000$ common shares at $$18$ per share Nov $21$: Purchased and retired $500$ common shares at $$23$ per shareDec $30$: Declared $8\%$ stock dividend on the outstanding common shares at fair value. The fair value of the common shares on that date is $$17$ per shareRequirement $-1$ Prepare the journal entries to record the bove transactions for $2024.$